Micron Technology (MU) stock jumped more than 5% on Friday, hitting $543.90 and setting a new 52-week high. The move was driven by a wave of earnings commentary from major tech companies confirming that memory is now a central cost in the AI buildout.
Meta raised its 2026 capital expenditure outlook to between $125 billion and $145 billion. CEO Mark Zuckerberg attributed “most” of the increase to higher component costs, with memory pricing specifically called out.
CFO Susan Li backed that up, citing “higher component pricing this year” as a key driver behind the revised forecast.
Microsoft’s CFO Amy Hood revealed that the company’s $190 billion 2026 capex figure includes “$25 billion from the impact of higher component pricing.” That’s a concrete number attached to a cost that was previously more vague.
Amazon CEO Andy Jassy went further, saying “the cost of these components, particularly memory, has skyrocketed” and that there is “just not enough capacity” to meet demand. That supply constraint is a direct tailwind for Micron.
The stock also got a boost from analyst activity. DA Davidson initiated coverage with a Street-high price target of $1,000. TD Cowen raised its target to $660 from $550 — a 20% increase — while maintaining a Buy rating.
TD Cowen analyst Krish Sankar noted that Micron’s HBM capacity for 2026 is already fully sold out, a detail that underscores just how tight supply conditions are.
Rival Samsung also reported record profits driven by AI chip demand, sparking sympathy momentum across the semiconductor sector. SanDisk, Seagate, and NXP Semiconductors all posted strong results, adding to the broad tailwind.
Micron’s most recent quarterly results gave investors plenty to work with. Fiscal Q2 2026 revenue came in at $23.86 billion, compared to $8.05 billion in the same period last year.
CEO Sanjay Mehrotra said Micron “set new records across revenue, gross margin, EPS, and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply, and strong execution.”
On the technical side, Micron is trading 16.2% above its 20-day simple moving average and 38.4% above its 100-day SMA. The stock has gained 574.70% over the past 12 months.
Key resistance sits at $535.50, the prior 52-week high. Support is around $453, near the 20-day SMA where buyers have previously stepped in.
Friday’s broader market was also positive, with the Nasdaq up 1.14% and the S&P 500 gaining 0.81%. Micron’s 5%+ move outpaced the index by over four percentage points.
MU stock was trading at $543.90 at time of publication, up 5.17% on the day.
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